BlackRock Inc. trimmed its stake in shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 0.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,739,255 shares of the biotechnology company’s stock after selling 22,606 shares during the period. BlackRock Inc. owned 13.93% of Ligand Pharmaceuticals worth $344,350,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc lifted its holdings in Ligand Pharmaceuticals by 3.3% during the 3rd quarter. Vanguard Group Inc now owns 2,090,137 shares of the biotechnology company’s stock valued at $573,721,000 after buying an additional 66,789 shares in the last quarter. Bank of Montreal Can grew its position in Ligand Pharmaceuticals by 3.4% during the 4th quarter. Bank of Montreal Can now owns 10,002 shares of the biotechnology company’s stock worth $1,357,000 after purchasing an additional 330 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Ligand Pharmaceuticals during the 4th quarter worth approximately $150,000. Advisors Asset Management Inc. grew its position in Ligand Pharmaceuticals by 11.0% during the 4th quarter. Advisors Asset Management Inc. now owns 9,552 shares of the biotechnology company’s stock worth $1,296,000 after purchasing an additional 947 shares during the last quarter. Finally, Rhumbline Advisers grew its position in Ligand Pharmaceuticals by 30.8% during the 4th quarter. Rhumbline Advisers now owns 67,591 shares of the biotechnology company’s stock worth $9,172,000 after purchasing an additional 15,915 shares during the last quarter.
Several analysts have weighed in on the stock. ValuEngine raised shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, April 5th. HC Wainwright reissued a “buy” rating and issued a $214.00 price objective (down previously from $254.00) on shares of Ligand Pharmaceuticals in a research note on Friday, May 3rd. Zacks Investment Research lowered shares of Ligand Pharmaceuticals from a “buy” rating to a “strong sell” rating in a research note on Tuesday, March 19th. BidaskClub raised shares of Ligand Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 27th. Finally, Argus reissued a “buy” rating and issued a $150.00 price objective (down previously from $200.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, February 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $195.88.
Shares of LGND stock opened at $110.33 on Thursday. Ligand Pharmaceuticals Inc. has a twelve month low of $98.56 and a twelve month high of $278.62. The stock has a market capitalization of $2.12 billion, a P/E ratio of 17.57, a PEG ratio of 2.43 and a beta of 1.40. The company has a debt-to-equity ratio of 0.57, a current ratio of 8.39 and a quick ratio of 8.33.
Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings results on Thursday, May 2nd. The biotechnology company reported $1.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.28. The company had revenue of $43.48 million during the quarter, compared to analysts’ expectations of $38.28 million. Ligand Pharmaceuticals had a return on equity of 19.21% and a net margin of 320.12%. The business’s revenue was down 22.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.55 EPS. On average, analysts expect that Ligand Pharmaceuticals Inc. will post 2.34 EPS for the current year.
In related news, Director Jason Aryeh purchased 250 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was acquired at an average price of $107.01 per share, for a total transaction of $26,752.50. Following the transaction, the director now directly owns 61,703 shares of the company’s stock, valued at approximately $6,602,838.03. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John L. Higgins purchased 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was bought at an average price of $113.50 per share, with a total value of $283,750.00. Following the transaction, the chief executive officer now directly owns 28,042 shares in the company, valued at $3,182,767. The disclosure for this purchase can be found here. In the last three months, insiders bought 4,500 shares of company stock valued at $503,895. Company insiders own 7.80% of the company’s stock.
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Ligand Pharmaceuticals Profile
Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; Aziyo portfolio of commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.
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